Current 10-year refinance rates

By Zach Wichter

On , the national average 10-year fixed refinance APR is 3.110%. The average 10-year fixed mortgage APR is 3.040%, according to Bankrate’s latest survey of the nation’s largest refinance lenders.

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How to use our mortgage rate table

The table above will show you estimated mortgage rates from different lenders, tailored to you. Fill out the fields above as accurately as possible so we can get a sense of where you live, what you’re looking to do and your financial situation. Based on the information provided, you will get custom quotes and be on your way to getting a new mortgage. This is an estimate; your actual rate will depend on a number of factors.

Current 10-year refinance rates

The table below brings together a comprehensive national survey of mortgage lenders to help you know what are the most competitive refinance rates. This interest rate table is updated daily to give you the most current rate when choosing a refinance home loan.

Product Interest Rate APR
10-Year Fixed Rate 2.990% 3.110%
15-Year Fixed Rate 3.000% 3.100%
20-Year Fixed Rate 3.610% 3.670%
30-Year Fixed Rate 3.680% 3.720%
30-Year Fixed-Rate VA 3.370% 3.550%
7/1 ARM 2.950% 4.000%
5/1 ARM 2.740% 3.990%
10/1 ARM 3.230% 4.080%
30-Year Fixed-Rate FHA 3.200% 4.060%
30-Year Fixed-Rate Jumbo 3.680% 3.740%
15-Year Fixed-Rate Jumbo 3.030% 3.080%
7/1 ARM Jumbo 2.800% 3.900%
5/1 ARM Jumbo 2.630% 3.670%

Why trust Bankrate?

Bankrate has been the authority in personal finance since it was founded in 1976 as the “Bank Rate Monitor,” a print publication for the banking industry. Bankrate has been surveying and collecting information on mortgage and refinance rates from the nation’s largest lenders for more than 30 years. Top publications such as The New York Times, Wall Street Journal, CNBC and others depend on Bankrate as a trusted source of financial information, so you know you’re getting information you can trust.

How Bankrate mortgage and refinance rates are calculated

Lenders nationwide provide weekday mortgage rates to our comprehensive national survey to bring you the most current rates available. Here you can see the latest marketplace average rates for a wide variety of refinance loans. The interest rate table below is updated daily to give you the most current refinance rates when choosing a home loan. APRs and rates are based on no existing relationship or automatic payments. For these averages, the customer profile includes a 740 FICO score and a single-family residence. To learn more, see understanding Bankrate rate averages.

Top 5 Bankrate 10-year refinance lenders

  • Cardinal Financial Company – Best for low-credit score borrowers
  • Third Federal Savings and Loan Association – Best bank lender
  • Interfirst Mortgage Company – Best non-bank lender
  • Fairway Independent Mortgage Corporation – Best overall
  • Sage Mortgage – Best broker


Bankrate helps thousands of borrowers find mortgage and refinance lenders every day. To determine the top mortgage lenders, we analyzed proprietary data across more than 150 lenders to assess which on our platform received the most inquiries within a three-month period. We then assigned superlatives based on factors such as fees, products offered, convenience and other criteria. These top lenders are updated regularly.

Cardinal Financial Company – Best for low-credit score borrowers

Cardinal Financial Company, a mortgage lender that also does business as Sebonic Financial, is available to borrowers across every state, with loan options ranging from conventional and FHA to manufactured home loans.

Strengths: Cardinal Financial Company’s Octane system lends speed to the refinancing process, allowing you to compare refinance rates and e-sign documents. The lender also accepts credit scores as low as 550 for a VA loan, 580 for FHA and USDA loans, 620 for a conventional loan and 660 for a jumbo loan.

Weaknesses: If you’re looking to compare fees for your 10-year refinance, you’ll have to reach out to Cardinal Financial directly, as the lender’s website doesn’t offer this information.

Read Bankrate's full Cardinal Financial Company mortgage review

Third Federal Savings and Loan Association – Best bank lender

Third Federal Savings and Loan Association is a mortgage lender offering mortgage and refinancing options, including 10-year fixed-rate and jumbo loans.

Strengths: You’ll be able to find refinance rates based on county easily through Third Federal Savings and Loan’s website. This includes rates for the bank’s low-cost loans, which have higher interest rates but lower upfront fees. You’ll also find a host of supportive resources online, including “Easy Guides” for various types of loans.

Weaknesses: This lender is licensed in 25 states and Washington, D.C., so not all borrowers will be eligible.

Read Bankrate's Third Federal Savings and Loan Association user reviews

Interfirst Mortgage Company – Best non-bank lender

Strengths: With Interfirst Mortgage Company, you can learn if you qualify for a preapproval in minutes online, and the lender claims to close mortgages quicker than typical industry turnaround times.

Weaknesses: You won’t be able to refinance FHA, VA or USDA loans with this lender.

Read Bankrate's full Interfirst Mortgage Company review

Fairway Independent Mortgage Corporation – Best overall

Fairway Independent Mortgage Corporation is a mortgage lender available nationwide. Borrowers can take advantage of its 10-year purchase and refinance options, as well as several other types of loans.

Strengths: With hundreds of branches, you’ll likely have access to in-person service, and if you’re refinancing for the first time, Fairway’s website has learning resources, including calculators, to help guide your decision-making.

Weaknesses: If you prefer to have the same company as your lender and servicer, you might want to compare Fairway to other options, as the lender doesn’t service loans in all states.

Read Bankrate's full Fairway Independent Mortgage Corporation review

Sage Mortgage – Best broker

Established in 2020, Sage Mortgage is an online mortgage broker licensed in 20 states, able to connect you with the best rates and loan terms based on your situation. The broker is owned by Red Ventures, parent company of Bankrate.

Strengths: As a mortgage broker that works with several wholesale lenders, Sage Mortgage is able to offer competitive rates, and you can get a custom quote in less than a minute online.

Weaknesses: Sage Mortgage isn’t licensed everywhere, so you’ll need to confirm availability, or potentially work with another broker.

Read Bankrate's full Sage Mortgage review

When should you consider a 10-year refinance?

Refinancing to a 10-year loan makes sense when you’ve been paying off your mortgage for many years, or for homeowners who want to get really aggressive with their repayment. Refinancing into a 10-year mortgage can allow you to secure a lower interest rate without extending your repayment term.

Although rates can differ depending on the lender and your own finances, 10-year refinance rates are generally lower than other terms, like 15- or 30-year mortgages. However, you'll likely face a higher monthly payment, especially if you’re refinancing to a shorter repayment term.

Given the higher monthly payment, a 10-year refinance loan makes sense for homeowners with sufficient cash flow who want to be debt-free sooner, especially those who want to pay off their mortgage before retirement.

When is the right time to refinance?

The best time to refinance to a 10-year mortgage will depend on whether the potential savings outweigh the fees you’ll pay and other financial considerations. Keep in mind that you could be paying a higher monthly payment, so homeowners should look at their monthly budget to see if it’s possible to take this on.

In general, refinancing is a good idea for borrowers with adjustable-rate mortgages looking to stabilize their payments, or for homeowners looking to tap into their equity to fund other projects, like home improvement. You can refinance into any length of loan term, but a 10-year is best for borrowers who want to pay off their mortgage as soon as possible and have the resources to do so comfortably.

Keep in mind that 10-year mortgages tend to have high payments, so it’s important to look closely at your finances to decide if you can comfortably afford your new loan in addition to your other monthly expenses.

Also, be sure to look beyond the interest rate when refinancing. Lenders may charge appraisal, closing, origination or other types of fees to refinance. Your current lender could also assess penalties for paying off your loan early, so look into the fine print before proceeding.

One way to see whether refinancing makes sense is to calculate how much you’ll save in interest and subtract it from the fees you’ll pay. You’ll also want to take into consideration how long you plan on staying in your home to find the breakeven point after refinancing.

Pros and cons of a 10-year fixed-rate refinance

As with most mortgage refinances, overhauling your home loan only really makes sense if you can save money or tap your equity. If you’re considering a refi and aren’t sure what term makes sense for you, here are some things to consider:


  • Short repayment period means you’ll quickly own your home outright
  • 10-year loans tend to have lower interest rates than longer-term ones
  • A fixed-rate mortgage has predictable monthly payments, making it easier to budget


  • High monthly payments compared to shorter-term loans
  • You could have to refinance again to lower your payments
  • Less flexibility in your monthly budget, reducing your ability to save

Alternatives to a 10-year refinance

If you’re considering a refi, remember you have options beyond the 10-year loan. For many borrowers, a longer repayment period makes more sense because of the lower monthly payments. 30-year mortgages are the most common type of home financing, and 15-year loans are popular, too.

If you’re planning to move in 10 years or less, a longer loan term could still make sense, because you can always pay more toward your principal balance voluntarily. That option gives you the flexibility of a lower monthly payment to fall back on if your financial situation changes.

You can also consider an adjustable-rate mortgage, which tends to have a lower initial interest rate than a standard fixed-rate loan and usually amortizes over 30 year. Keep in mind that the rate will fluctuate, which means your monthly payment will, too, after the initial fixed period ends.

Learn more about mortgage refinancing

Written by: Zach Wichter, mortgage reporter for Bankrate

Zach Wichter is a mortgage reporter at Bankrate. He previously worked on the Business desk at The New York Times where he won a Loeb Award for breaking news, and covered aviation for The Points Guy.

Read more from Zach Wichter

Learn more about specific loan type rates
Loan Type Purchase Rates Refinance Rates
The table above links out to loan-specific content to help you learn more about rates by loan type.
30-Year Loan 30-Year Mortgage Rates 30-Year Refinance Rates
20-Year Loan 20-Year Mortgage Rates 20-Year Refinance Rates
15-Year Loan 15-Year Mortgage Rates 15-Year Refinance Rates
10-Year Loan 10-Year Mortgage Rates 10-Year Refinance Rates
FHA Loan FHA Mortgage Rates FHA Refinance Rates
VA Loan VA Mortgage Rates VA Refinance Rates
ARM Loan ARM Mortgage Rates ARM Refinance Rates
5/1 ARM 5/1 ARM Rates 5/1 Refinance Rates
7/1 ARM 7/1 ARM Rates 7/1 Refinance Rates
10/1 ARM 10/1 ARM Rates 10/1 Refinance Rates
Jumbo Loan Jumbo Mortgage Rates Jumbo Refinance Rates
30-Year Jumbo Loan 30-Year Jumbo Loan Rates 30-Year Jumbo Refinance Rates